Mortgage applications: way below average

Friday 02/24/2006: The Mortgage Bankers Association yesterday released its Weekly Mortgage Applications Survey for the week ending February 17. The Refinance Index decreased by 4.0 percent to 1571.4 from 1636.7 one week earlier. The blue horizontal line is the 12-month average volume, which is approximately 2,040. The current volume is way below this average.